The naira appreciated significantly against the dollar on Wednesday to trade at N400 to the dollar, the News Agency of Nigeria (NAN) reports.
At the Bureau De Change (BDC) window, the naira was sold at N400 to the dollar, while it closed to the pound sterling and the Euro at N530 and N465, respectively.
Transactions at the interbank market saw the naira close at N307.75 to the dollar.
Traders however expressed mix-feelings over the development in the market on Wednesday.
The CBN had in the last few weeks injected about $1. 7bn into the foreign exchange market.
The Governor of CBN, Mr. Godwin Emefiele warned speculators to desist from stocking dollars at home because the CBN intervention would crash the price of dollar, which is already happening.
Source: HipTv
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